Texas Real Estate Exam State Portion Flashcards

Texas Real Estate Exam (State Portion) Flashcards

• Assemble legal documents required for a closing.Only a

licensed person may explain simple contract documents to prospective buyers as this would be considered an act of brokerage. An unlicensed person may perform bookkeeping such as computing commission checks, performing secretarial work such as assembling legal documents for closing, and writing advertising under the direction of a license holder. These activities are not considered to be acts of brokerage.In Texas, an unlicensed real estate assistant may perform all of these activities EXCEPTA) assemble legal documents required for a closing.B) compute commission checks.C) explain simple contract documents to prospective buyers.D) prepare and distribute flyers and promotional materials.

• The notice must be delivered to the purchaser before

the effective date of the contract.A seller of residential real property that is subject to membership in a property owners' association is required to give a prospective purchaser a written notice. All of the following are true regarding the written notice EXCEPTA) the notice must state failure to pay association assessments could result in a lien on and the foreclosure of the property.B) the notice must be delivered to the purchaser before the effective date of the contract.C) the promulgated Addendum For Property Subject To Mandatory Membership In A Property Owners Association.D) the notice must state that the purchaser would be obligated to be a member of the association.

• Have a licensed broker who is the broker for the firm.Every Texas real estate brokerage firm is required toA)

keep transaction records for three years.B) display signage at the office location.C) maintain escrow account records for five years.D) have a licensed broker who is the broker for the firm.

• 18.Unless affected by factors such as marriage of a minor or

removal of emancipation by court order, the normal legal age of emancipation in Texas isA) 21.B) 20.C) 18.D) 19.A salesperson for a brokerage company obtained a written listing agreement with a seller authorizing the salesperson's broker to act as an intermediary and to make appointments should the situation arise. Another salesperson for the same brokerage company has an oral agreement to represent a buyer. The buyer also agreed orally that the broker could act as an intermediary and make appointments should the situation arise. The broker mayA) legally act as an intermediary but may appoint a salesperson only to the seller.B) act as an intermediary but may not make appointments to either the buyer or the seller.C) not act as an intermediary or make appointments

under this scenario.D) legally act as an intermediary and make appointments to both the buyer and the seller because they are separate associates.

• The broker should advise the buyer and the seller to

each obtain legal counsel before inserting such an unusual item into the contract.

• A lease for a term of more than 1 year must be in writing

to be enforceable.Which of these statements is TRUE?A) A lease for 15 months can be oral and still enforceable.B) A lease for a term of more than 1 year must be in writing to be enforceable.C) A lease for 9 months must be reduced to writing to be enforceable.D) A lease for less than 6 months must be in writing to be enforceable.

• "Beach Front Properties. Ask for Amil". Which of the following advertisements, placed by a

licensee, might be misleading?A) "Metro Properties. Ask for Listing Agent Armando"B) "Beach Front Properties. Ask

for Amil"C) "Fair Winds Realty. Ask for Sales Associate Anna"D) "River View Properties. Call Ted Smith, Broker"

• A company that, for an advance fee, matches individuals

from different parts of the country who want to exchange

properties and assists them in doing so.Which of the following requires a real estate license?A) A company that, for an advance fee, matches individuals